How (and why) to Ramble on your goat sideways
02-24-2011, 08:59 AM
#6701
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The oil industry is always looking for excuses to raise oil prices.
War in Serbia? Oil price goes up.
Protests in Egypt? Oil price goes up.
A butterfly flaps it's wings in China? Butterfly gets arrested by the communist regime and oil price goes up.
Hustler gets laid? Oil price goes up.
Jared pops another engine? Oil price goes up.
War in Serbia? Oil price goes up.
Protests in Egypt? Oil price goes up.
A butterfly flaps it's wings in China? Butterfly gets arrested by the communist regime and oil price goes up.
Hustler gets laid? Oil price goes up.
Jared pops another engine? Oil price goes up.
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02-24-2011, 09:26 AM
#6702
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I think it's mostly fear right now. But of course, fear allows companies to pad their pockets whether it's in anticipation of bad times ahead or just because they can. Libya only produces about 2% of the world's oil per day so it's certainly not effecting the supply. Other countries like Saudi Arabia have 3 or 4 times Libya's output in excess capacity. Meaning Libya could shut down and we would still have the same amount available, just from a different source. But, of course this means we are dealing with fewer suppliers so they can raise their prices and we will still buy it. Also, there is a lot of fear of unrest spreading to other countries that produce much, much more oil than Libya. Most of Libya's oil goes to Europe, it actually makes up something like 30 or 40% of the oil for Italy. I would hate to see their prices now. But, we have such low gas prices in America, our culture is built on it, our cities are built on cheap transportation. It's going to be bad when we catch up to the rest of the world one day and half of the country can't afford to get to work.
Last edited by JennB; 02-24-2011 at 09:41 AM.
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02-24-2011, 09:50 AM
#6703
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Three hours left to buy a running 1990 BMW 325 for $620.
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http://www.govdeals.com/index.cfm?fa...34&acctID=1503
Last edited by sixshooter; 02-24-2011 at 04:44 PM.
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